A rendering of the Shore Public Walkway near 1480 Sheridan Blvd.
Photo courtesy Newman Design/Simone Development
A $500 million mixed-use development project along the Bronx River waterfront looks like it will now come to fruition after the City Council gave its blessing.
The proposal would create nearly 1,000 residential units on Sheridan Boulevard and along the Bronx River waterfront in Crotona Park East, after the project was approved by a 47-0 vote of the City Council on Sept. 28. Approval from the council marks the final phase of the seven-month public review process. In May, the project received support from Community Board 9.
The next step for the project is the rezoning process — which would include changing the lot’s existing zoning regulations from a M1-1 (manufacturing) to a R7-3 (residential) district with waterfront regulations.
The plan by Bronx-based developer Simone Development includes the construction of three residential buildings on two properties, located just south of Starlight Park.
The two waterfront properties, owned by Simone since the late 1970s, would be largely converted into a residential complex, known as 1460 and 1480 Sheridan Blvd.
One building, which would be constructed and located at 1460 Sheridan Blvd., consists of 304 residential units, while the other two buildings that would make up 1480 Sheridan Blvd. would combine for 666 units — totaling approximately 970 units across the entire scope of the project.
Simone Development did not respond to requests for comment about the commercial component of the project or whether 15% of the units would be reserved for individuals who were previously homeless, as had been previously reported.
According to a spokesperson for the city Planning Commission, the project has been envisioned as a 100% income-restricted development, meaning all residential units will be based on the area median income (AMI).
Approximately 146 units would be reserved…
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